Technology has a fair influence on just about everything. From the biggest industries around the world to our daily lives. The real estate industry is no different. A variety of technological implications has been turning the way the real estate industry used to operate.
Having said that, in today’s article, we will focus on a handful of technological trends that have been making their rounds around the real estate industry. These trends are showing great potential in bringing customer experience up a notch. Let us take a look and see what they are all about.
Virtual and Augmented reality
This trend is rising in popularity at an alarming rate, and rightfully so. Say, you are looking to buy property. For every property that your real estate agent shows you, you need to go to said property and check it out yourselves to understand the spatial settings and whether it goes according to your preferences.
Now imagine, with technology, you can see the said property without even having to visit it. This is what virtual and augmented reality does. AR software helps architects plan the inside layout (position of walls, doors, stairs, etc.) of any structure. It helps you give a sense of the physical space without visiting the area. Augmented reality market reached the $10.7 billion mark in 2019 and is expected to grow up to $72.7 billion by 2024. This trend is popular even more because it helps save time and allows you to review more of your options.
Also, it helps a lot in other ways, such as interior designing. Using these technologies, you can design your space virtually before making physical changes.
The blockchain trend
What happens when you put together cryptocurrency and the real estate industry? You get a new trend known as the blockchain trend. Ever since an apartment in Ukraine was bought with the blockchain method, people started realizing that buying properties with cryptocurrency may be beneficial, along with many other reasons.
Soon enough, other start-ups followed suit to come up with their blockchain firms. Now, it is a raging trend in this industry that you must look out for.
The trend of smart homes
Housing and technology together give you what is now popularly known as smart homes. Imagine having a house with AI integration that simply makes your lives easier. Similar to your smartphones, watches, and cars, smart homes have an exceptional feature that simply makes things easier.
It can effectively control and manage the lighting set up, the temperature within the household, entertainment gadgets, general household appliances, and even security. Automation is the key component here and the result is a house that can take care of itself and you. More and more people are looking for smart homes so it is only wise to be aware of this trend.
Digital sharing economies and housing societies
In recent years, the act of owning households is dwindling rapidly. With the evident housing crisis, millennials have come to believe that sharing property is much better than owning individual houses. Thus, we see an emergence in sharing economies.
On the other hand, another rapidly rising trend is the housing society where people come and live together in small housing complexes, facilitated by advanced technology. This makes the living experience better by bringing people close and developing good relationships, which otherwise would have been non-existent. Some apps support such habits and help you find neighbors and friends through them. Perfect for bringing up families, these societies are in high demand.
So these are a few of the top technological trends going around in the real estate agency. If you are in either of these fields, this article is something that will help you out. So, keep your eyes out for the new trends and be on top of your real estate game.